This is an example of <u>Corner Solution.</u>
- A corner solution is a unique answer to the agent maximisation problem when one of the inputs in the maximised function has a quantity of zero. In layman's words, a corner solution occurs when the chooser is unable or unwilling to make a trade-off between several options.
<h3><u>In consumer theory, what do we mean by "corner solutions"?</u></h3>
- A corner solution is one in which none of the goods are present in the ideal bundle. 49 / 70. Consumer choice restrictions. The indifference curve is to the budget constraint at the best bundle if there is an inside solution.
To learn more about Corner Solutions, Click the links.
brainly.com/question/15186345
#SPJ4
Answer: Option (a) is correct.
Explanation:
Correct Option: Lower than his opportunity cost of that good.
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
In our case, if people obtained a good at a price that is lower than his opportunity cost of that good then he will be benefited from the trade.
Answer:
c. Economies of scope
Explanation:
In business, economies of scope refers to producing more than one product or service because you can earn higher profits by diversifying your production. The cost of producing these products together or one after another is lower or yields more benefits than producing them separately.
In agriculture economies of scope refers to producing as many different crops as you can on the same fields. In the case of soybean and corn (or wheat), the crops are rotated because each crop required different nutrients from the soil.
Total number of credits to graduate is minimum 26 to be a 10th grader you need 6 credits at least
